HomeMy WebLinkAboutCity Council Resolution 1981-385CITY OF PLYMYM
Pursuant to due call and notice thereof,a s ecial meeting of the City
Council of the Cicy of Plymouth, Minnesota, was held on t e 22nd day of
June , 198L. 7be following members were present AFEMg Mayor Nei 1 s ,
Schneider and Threinen
following members were sent: Mayor Davenport, Councilmember Hoyt
�*• •+rye a*a
Councilmember Schneider introduced the following Resolution and moved
its adoption:
RESOLUTION NO. 81 - 385
CALLING FOR A PUBLIC HEARING RELATING TO A PROJECT UNDER THE
MUNICIPAL INDUSTRIAL DEVELOPMENT ACT
BE IT RESOLVED by the City Council of the City Council of the City of Plymouth,
Minnesota (the Municipality), as follows:
SECTION 1 - RECITALS
1.1 Agressive Investors, a Minnesota general partnership (the Borrower), has
advised this Council of its desire to acquire an existing facitlity in the
Municipality, construct an addition thereto and equip the same for use as an
office and printing facility to be leased to Watt/Peterson, Inc.
1.2 The Municipality is authorized by Minnesota Statutes, Chapter 474 (the Act),
to issue its revenue bonds to finance capital projects consisting of properties
used and useful in connection with a revenue-producing enterprise. The Borrower
has requested the Municipality issue its revenue bonds in an estimated total
amount of $950,O00 to finance a portion or all of the cost of the Project.
SECTION 2 - PUBLIC HEARING
2.1 Section 474.01, Subdivision 7b of the Act requires that prior to submission
of an Application to the Minnesota Commissioner of Securities requesting approval
of the Project as required by Section 474.01, Subdivision 7 of the Act, this
Council shall conduct a public hearing on the proposal to undertake and finc;nce
the Project. Pursuant to that provision, a public hearing on the proposal to
undertake and finance the Project is called and shall be held on July 20, 1:)81,
at 7:30 o'clock P.M., at the City Center.
2.2 The City Clerk shall cause notice of the public hearing to be published in
the official newspaper of the Municipality and in the Minneapolis Star and Tribune,
newspapers of general circulation in the Municipality, at least once not less than
fifteen (15) nor more than thirty (30) days prior to the date fixed for the public
hearing. The notice shall be in substantially the following form:
Resolution # 81-385
Page 2
2.3 A draft copy of the proposed Application to the Minnesota Commissioner of
Securities, together with all attachments and exhibits thereto, are hereby
ordered placed on file with the City Clerk and shall be available for public
inspection, following publication of the notice of public hearing, between the
hours of 8:00 A.M. and 4:30 P.M., Monday through Friday.
The notion for the adoption of the foregoing Resolution was duly seconded
b lbrpinen-, and upon vote being taken thereon, the
fol owYng voted zn ravor thereof: _Acting Mavor Neils Councilmembers
The =110WIng Voted again I or abstained:
Whereupon the Resolution was declared duly pass adopt .